Sep 7, 2012 11:00pm PDT
weight of the economy on his shoulders. enter paul ryan, barack obama and washington. he's going to do whatever he can, even if it's not the perfect solution. will that change america's mood fast? there's only 60 days to go till the election. ben comes out with the beast, will it help romney or obama? "outfront," strike team member jim bianco of bianco research. reihan salam. really appreciate it. ben bernanke is in a tough spot. everybody expects him to act. >> i think he is going to act. i think we're going to get a third round of quantitative easing to begin on thursday. we're just giblquibbling about the size and type. >> how quickly will it do anything? i hate to say this but this is the way it usually goes, right, people like you, jim, have thought this was going to happen for a while. so it's almost as if we have to say it's priced in. once he announced it, we're not going to get any benefit. >> that's right, since late july when we all thought it was coming. bernanke in his speech in jackson hole last month said clearly that he was looking for the stock market to go up and that
Aug 31, 2012 8:00pm PDT
on a job that ben bernanke says he created. does it add up? plus obama revealed. we have an exclusive cnn documentary about the president and new details about his personal life. >>> and update on the "outfront" investigation of federal employees who are paid to work from home and get to travel across the country on the taxpayer dimes and we have been trying for months to find out how much it is costing us, and tonight, an answer. tonight, an answer. let's go "outfront." -- captions by vitac -- www.vitac.com >>> well, good evening, everyone, i'm erin burnett, an outfront tonight, $1 million per job, that is what america's top money man says we have spent on stimulus from the fed alone. and he says that that is money well spent and he may spend more. today, ben bernanke was in jackson hole, wyoming, a bucolic location for a big speech, and he defended the action else to hp the u.s. e copmy and with good reason, because the fed chairman appointed by george w. bush and embraced by president obama and criticized by some influential people including mitt romney has a little bit of an image pro
Aug 31, 2012 11:00pm PDT
by president obama, criticized by some influential people, including mitt romney, has a little bit of an image problem now. as president romney for example ben bernanke would lose his job. >> my view has been i would want to select someone who was a new member -- excuse me, a new person to that chairman's position, someone who shared my economic views. >> romney's running mate, budget hawk paul ryan, is not a fan either because ryan chided the chairman during a hill hearing earlier this year. >> a lot of us believe the federal reserve was too loose for too long in the 2003 to 2005 period and that's what in part led to the asset bubble and the malinvestment that occurred. i know you don't agree with that. because you don't agree with that, our fear is you're just going to repeat these same mistakes again but by orders of magnitude we don't even comprehend now. >> paul ryan is right about one thing. what the fed has done over the past few years has never happened before in history. the question is, will ryan and romney's words backfire? after all, ben bernanke could be the kingmaker or breaker.